There is no straight-forward formula to arrive at an answer for this since it depends on individual preference and time-frame. If you’ve planned to live in one city for the rest of your life, buying a home could be a more suitable option for you. It would be better to pay EMI than monthly rent.
“Many of today’s millennials prefer the ‘Uber’ way of life — buy nothing, rent everything and either save or invest money in mutual funds of stocks. This mindset tends to change as one crosses age 40 when a yearning to settle down invariably creeps in. If one has not bought property by then, things can get difficult. One’s salary increments may or may not have kept pace with inflation, but property prices would have appreciated. Buying a property can be challenging if they desire to do so comes too late in life unless one has done extremely well on both the professional and investment fronts.
In broad terms, investment in real estate is an investment in a performing asset. The asset either provides a roof over one’s family or can generate rental income and with patience, given the current market scenario, even long-term capital appreciation. Rental outgo is a dead investment in the sense that it pays for an immediate need but generates no returns, other than a small HRA tax benefit. Another factor is age.
Doing the right investment is also an important factor. If you are in a plan of shifting from Rent to own house here is the right choice which is worth investing. As it is one of the emerging cities in India and if you are looking to buy any property in Bangalore then please visit: PHOENIX | One Bangalore West | High-end premium apartments in Bangalore
No comments:
Post a Comment